This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The nominal price of milk was 2.25 in 1998 while the CPI was 163.0 that year. Also, the CPI in 1970 ... (Read 45 times)

Chelseaamend

  • Hero Member
  • *****
  • Posts: 545
on: Jul 1, 2018
The nominal price of milk was 2.25 in 1998 while the CPI was 163.0 that year. Also, the CPI in 1970 was 38.8. What was the real value of 1998 milk in terms of 1970 dollars?
 
  What will be an ideal response?

Question 2

Carolyn knows average total cost and average variable cost for a given level of output. Which of the following costs can she not determine given this information?
 
  A) total cost
  B) average fixed cost
  C) fixed cost
  D) variable cost
  E) Carolyn can determine all of the above costs given the information provided.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

frankwu0507

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jul 1, 2018
Answer to Question 1

38.8(2.25)/163 = 0.54.

Answer to Question 2

E


Chelseaamend

  • Member
  • Posts: 545
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

miss_1456@hotmail.com

  • Member
  • Posts: 289
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
A 1998 false-colour near-infrared image of Uranus showing cloud bands, rings, and moons obtained by A 1998 false-colour near-infrared image of Uranus showing cloud bands, rings, and moons obtained by
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
Eggs, milk, and cheese are complete proteins, because they are animal products. Eggs, milk, and cheese are complete proteins, because they are animal products.
During my research in India, I interviewed this 8-year-old girl. Mahashury is a bonded laborer who ... During my research in India, I interviewed this 8-year-old girl. Mahashury is a bonded laborer who ...
Two lymphocytes that are reactive in a 19-year-old college student with infectious mononucleosis. ... Two lymphocytes that are reactive in a 19-year-old college student with infectious mononucleosis. ...
The average weight gain between Thanksgiving and New Year's Day is about a pound The average weight gain between Thanksgiving and New Year's Day is about a pound
Video: A timeline of the teeth (Explained - No Audio)

For a complete list of videos, visit our video library